Case Study: Financial Services
Exact Payments Optimizes Recurring Billing
Discover how the CFO was able to quickly improve key operating metrics with Sage Intacct ERP and Ordway Billing
Upgrading the CFO Tech Stack
One of Michael Marks’ first moves after joining Exact Payments as its new CFO was to upgrade his tech stack. He chose Sage Intacct core financials as the new ERP to replace the company’s legacy general ledger and accounts payable systems. In parallel, Marks’ replaced Exact Payments home-grown billing system with a modern SaaS application that would meet the future needs of the business.
Video Interview
- David Appel – Global Head of SaaS Vertical for Sage Intacct
- Michael Marks – CFO of Exact Payments discussing the tech stack upgrade
”With automation, we supported new contracts, improved margins, and improved our monthly cash generation by 15%."
Michael MarksChief Financial Officer, Exact Payments
Video Summary
Michael Marks
CFO of Exact Payments
“We wanted to find a billing provider that would enable us ultimate flexibility with the different billing plans that we wanted to offer our customers.”
- Less Manual Effort – Reduced FTEs involved in the billing process from 5 to 1. Enabling finance to independently conduct monthly bill runs without the help of support and operations.
- Faster Billing Cycles – Cut order-to-bill processing time down by 77% by eliminating the need to have the support team manually collect consumption data needed for calculations and eliminating the need to edit PDF invoices
- Consolidated Plans – Simplified administration for the finance team by consolidating 60 different billing plans down to 5
- Enabled Growth Strategy – Better alignment with go-to-market and the ability to offer more dynamic pricing to support the company’s new Payfac-as-a-service business
- Accelerated Cash Flows – A 50% reduction in declines from payments collected via credit card. Reduced days sales outstanding, resulting in a $120,000 increase in operating cash flow through the use of accounts receivable automation and dunning communications
“Additionally, We were able to save time from a headcount perspective in terms of who was involved in billing. Before Ordway, we had five different people involved in each monthly bill run. Now only one person from accounting needs to be engaged.”
David Appel
Global Head of SaaS Vertical for Sage Intacct
“I love how you were able to hone in on product-market fit and deliver for your clients in a way that operationalized things. You were able to take 60 plans down to five while decreasing the processing time, increasing cash flow, and significantly reducing credit card errors. It made you more efficient as a team so it’s just beautiful.”
